Deere & Co. (DE) Set to Announce Earnings on Wednesday
Deere & Co. (NYSE:DE) is set to release its earnings data before the market opens on Wednesday, November 23rd. Analysts expect Deere & Co. to post earnings of $0.40 per share for the quarter.
Deere & Co. (NYSE:DE) last issued its earnings results on Friday, August 19th. The company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.61. The firm earned $6.72 billion during the quarter. Deere & Co. had a net margin of 5.92% and a return on equity of 22.73%. The business’s revenue for the quarter was down 14.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.53 EPS. On average, analysts expect Deere & Co. to post $4.32 EPS for the current fiscal year and $3.85 EPS for the next fiscal year.
Deere & Co. (NYSE:DE) opened at 92.30 on Tuesday. The firm has a market cap of $29.02 billion, a P/E ratio of 18.50 and a beta of 0.71. The company’s 50 day moving average is $88.02 and its 200-day moving average is $83.80. Deere & Co. has a 52 week low of $70.16 and a 52 week high of $92.99.
The company also recently announced a quarterly dividend, which was paid on Tuesday, November 1st. Investors of record on Friday, September 30th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $2.40 dividend on an annualized basis and a yield of 2.60%. Deere & Co.’s dividend payout ratio (DPR) is currently 48.10%.
A number of analysts recently issued reports on the stock. Citigroup Inc. decreased their target price on shares of Deere & Co. from $100.00 to $87.00 and set a “buy” rating on the stock in a research report on Monday, August 22nd. Barclays PLC lifted their price target on shares of Deere & Co. from $63.00 to $68.00 and gave the company an “underweight” rating in a report on Wednesday, October 12th. Oppenheimer Holdings Inc. lowered shares of Deere & Co. from an “outperform” rating to a “market perform” rating in a report on Thursday, October 27th. Credit Suisse Group AG lifted their price target on shares of Deere & Co. from $87.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, August 22nd. Finally, Wells Fargo & Co. upgraded shares of Deere & Co. from a “market perform” rating to an “outperform” rating in a report on Monday, October 10th. Eight investment analysts have rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the stock. Deere & Co. currently has a consensus rating of “Hold” and an average target price of $84.60.
Several hedge funds and other institutional investors have recently bought and sold shares of DE. Candriam Luxembourg S.C.A. raised its position in Deere & Co. by 9.9% in the third quarter. Candriam Luxembourg S.C.A. now owns 24,002 shares of the company’s stock worth $2,049,000 after buying an additional 2,162 shares during the last quarter. Panagora Asset Management Inc. raised its position in Deere & Co. by 36.8% in the third quarter. Panagora Asset Management Inc. now owns 18,130 shares of the company’s stock worth $1,547,000 after buying an additional 4,881 shares during the last quarter. Fiera Capital Corp purchased a new position in Deere & Co. during the second quarter worth about $580,000. Point72 Asia Hong Kong Ltd raised its position in Deere & Co. by 316.7% in the second quarter. Point72 Asia Hong Kong Ltd now owns 2,500 shares of the company’s stock worth $203,000 after buying an additional 1,900 shares during the last quarter. Finally, Capital Guardian Trust Co. raised its position in Deere & Co. by 500.0% in the second quarter. Capital Guardian Trust Co. now owns 3,600 shares of the company’s stock worth $292,000 after buying an additional 3,000 shares during the last quarter. 70.14% of the stock is owned by institutional investors and hedge funds.
Deere & Co. Company Profile
Deere & Company is engaged in equipment operations and financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The Company’s agriculture and turf segment primarily manufactures and distributes a full line of agriculture and turf equipment and related service parts.
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